Has the liability of legal entities for exceeding cash payment limits been canceled?

Автор: admin_dev
Has the liability of legal entities for exceeding cash payment limits been canceled?

According to NBU Resolution No. 210S of 6.06.2013, from September 1, 2013 a maximum amount for cash payments between individuals and business entities was established, and the provisions of the procedure for conducting cash operations in the national currency were also changed.

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A discrepancy in the legislation may leave legal entities unpunished in case of exceeding the limit

legal entity limitsAccording to NBU Resolution No. 210S of 6.06.2013, from September 1, 2013 a maximum amount for cash payments between individuals and business entities was established, and the provisions of the procedure for conducting cash operations in the national currency were also changed.

By letter № 16331/7/99-99-22-01-03-17/1008 dated 28.08.2013 the Ministry of Revenues clarifies the impact of the changes on the control of the maximum cash payment amount.

The Ministry of Revenues requires tax authorities to inspect enterprises regarding compliance with cash payment rules and their limits. During such inspections, the enterprise’s (entrepreneur’s) settlement and cash documents will be taken into account, and if necessary a counter-check of recipients or payers of funds may be carried out.

During the inspection the main objective will be to identify exceedances of the maximum payment amount, namely :

1 . the maximum amount of cash payments between enterprises or entrepreneurs in an amount not more than 10,000 per day until the end of summer 2013, 2 . from autumn 2013 exceedances of the limits:

  • 10,000 between entrepreneurs or enterprises during one day;
  • 150,000 between individuals and enterprises or entrepreneurs for works, services or goods;
  • 150,000 between individuals under contracts of sale subject to notarization;

The Ministry of Revenues does not specify the time period in question, but notes that the calculation will be made by a one-time addition to the actual cash balances of the excessive amount of the cash limit, and based on this amount the comparison with the cash register limit will be made.

However, it is unclear how such a calculation can reveal exceedances of the limit, since the entrepreneur in this case does not have a cash register. Also, according to Resolution No.210, clause 2.3 “Regulations on Conducting Cash Operations” the requirement to add the excess of the cash limit to cash register balances for the purpose of imposing a fine was removed.

Thus, from September 1, 2013, for legal entities liability for exceeding the cash limit is not provided at all; according to Article 165-13 of the Code of Administrative Offenses, administrative responsibility for exceeding cash limits is borne only by officials. A legal entity, however, as before, for exceeding the cash register limit will be subject to fines according to Presidential Decree No. 436/953.

A similar situation exists for entrepreneurs in cases of 10,000 in settlements among themselves and 150,000 with individuals; from autumn 2013 administrative liability and fines are provided for exceeding these limits according to Decree No. 436/95 for exceeding the 10,000 limit.

Thus it turns out that exceeding cash payments is not related to the cash register limit.